INTERNATIONAL MILL ACTIVITY

摘要

Jiangsu Sandeli Group, a privately-owned stainless steel welded pipe maker in eastern China's Jiangsu province, has been declared bankrupt and is waiting for its creditors to take over its property, said an industry source participating in valuing Sandeli's assets. “The company suffered from its over-aggressive capacity expansion since 2009. A tightening monetary policy and lackluster steel market crushed its capital chain,” the source said. Some of its new installations are still unfinished due to lack of funding. Sandeli has a production capacity of 110,000 tons/year of stainless and titanium welded tube.